The russian corporate sector in 2025 demonstrated an accelerated decline. The number of registrations of new legal entities in the aggressor country of the russian federation decreased to 173,000, which is 20% less than in 2024. At the same time, business liquidations increased to 233,000 (+15%), as a result of which the number of closed companies exceeded the number of newly created ones by 26%. This is stated in the message of the Foreign Intelligence Service (FIS) of Ukraine.
Thus, according to the FIS, a decline in business activity was recorded in 60 regions of the country, including the main economic centers - Moscow and St. Petersburg. The worst dynamics are observed in housing construction and retail trade - sectors that directly depend on lending and solvent demand, which is rapidly depleting.
The intelligence community emphasizes that the reasons for the reduction in the number of companies are systemic: a sharp increase in operating costs, high cost of credit resources, increased requirements for tax discipline and chronic delays in payments by counterparties. The combined effect of these factors actually deprives businesses of liquidity and makes legal activities economically unjustified.
"The above dynamics indicate a structural narrowing of the corporate sector of the russian federation. Strengthening fiscal control together with expensive loans will further stimulate the liquidation of legal entities, primarily in capital-intensive industries. The consequence will be further shadowing of economic activity," the FIS says.
The intelligence community notes that business pessimism is reinforced by inflationary expectations. According to a survey of enterprises conducted by the Central Bank of the russian federation, when forming business plans for 2026, entrepreneurs on average set annual inflation at 9.3%. This significantly exceeds both the official Rosstat indicator for the past year (5.6%) and the Central Bank forecast for the current year (4–5%). At the same time, the inflation that ordinary russians actually observe is 14.5%, which finally undermines confidence in official statistics.
"2025 was the worst year for russian trade in the past 10 years: in all four quarters, the business confidence index remained in the negative zone. Against this background, more than half a million russian citizens were declared bankrupt, which emphasizes the depth of financial exhaustion of both businesses and households," the FIS emphasized.
As Ukrainian News Agency earlier reported, economic problems in the aggressor country of russia are increasingly hitting the population, which is confirmed by the rapid growth in the number of personal bankruptcies. According to the results of 2025, the Sverdlovsk Oblast entered the top five regions of the russian federation with the largest number of bankruptcy procedures of individuals and individual entrepreneurs.
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